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Categories  >>  Accounting  >>  Accounting General
 
 


  

 
 Audit interview questions  Audit Interview Questions
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 Taxation interview questions  Taxation Interview Questions
 Accounting General interview questions  Accounting General Interview Questions
 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question 
what is contigent liability
 Question Submitted By :: Faruk.id1981
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is contigent liability
Answer
# 1		 Contingent liabilities are liabilities that may or may not
be incurred by an entity depending on the outcome of a
future.

Also it is short term Liability 
Is This Answer Correct ?    17 Yes 0 No
Rajesh Jaiswal
 
  Re: what is contigent liability
Answer
# 2		 A contigent liability: its may or may not be liability to
the company but it is the mandatory to show in balance
sheet. 
Is This Answer Correct ?    8 Yes 0 No
Parry.d
 
 
 
  Re: what is contigent liability
Answer
# 3		 Contingent liabilities also liability but it's depending on
future decision. contingent liabilities also show in below
balance sheet. 
Is This Answer Correct ?    2 Yes 0 No
Pushpender Jangid
 
  Re: what is contigent liability
Answer
# 4		 contingent liability is a liability that due depending on
the future events such as court case etc....it is recorded
in company accounts and shown in the balance sheet........... 
Is This Answer Correct ?    3 Yes 0 No
Balu Reddy
 
  Re: what is contigent liability
Answer
# 5		 contigent
liabilities are
those liabilities
which may or may
nt be appear in
the future..
e.g. legal case 
Is This Answer Correct ?    0 Yes 0 No
Trilok Satwani
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
plz tell me Agar koi co. ka exp. generate ho or uski payment cash se ki jaye to hume wo exp. book krne ke liye payment ki receipt leni jaruri hai bina receipt ke entry krna sahi h ya galat..?? XL-Dynamics2
definition of Accounts types of accounts debit and credit definition debit and credit rules accounting rules  1
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how we calculate tds on salary  1
What is Tax Audit ? Please Explain.  1
Features of Fixed Capital ABC1
i am working in pvt company as accountant. but i have one doubt in case of tds deduction. becouse we have paid Rs.25000/- to Just Dail Group account as a Advertisement Expences. I know Rules of Tds deduction Rule no: 194C any payment to contract (advertisement contract) must want to deduct tds (1.133%)if u paid advertisement expences more than Rs.20000/- (one time). but my doubt is this. how much our assessment value in this creditor. up to 20000 don't want to pay tds. r we only assessed value Rs.5000 (25000- 20000), ie Rs.56.65 or whole amount (25000)ie Rs.283.25. anybody can help me  13
amount paid to rajiv as tour advice-2000  4
Explain Sundry Debtors and Sundry Creditors.  3
what is sox? Accenture4
where will lostv appear in balance sheet? TCS1
What is the difference betwween letter of credit and contract of gaurantee.........in what situations these will issued by whom?  1
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
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